Lamont Dozier was as important as any songwriter that has ever lived. As an industry, we are always focusing on the next thing, and sadly that comes with consequences: we sometimes fail to fully honour the wisdom and expertise that comes with having seen everything there is to see. The songwriters are the low men or women in the economic equation and they are still not – despite copyright board rulings, DCMS committees and CMA investigations – paid fairly and equitably.
Hipgnosis Song Management has moved into asset-backed securities with a $222 million bond offering powered by catalog royalties. HSM’s arrival into the music-bond space – where the likes of KKR and Northleaf Capital Partners have debuted in recent months – came to light in a formal release and report from the Kroll Bond Rating Agency (KBRA).
Apple has reportedly signed a deal with podcast producer Futuro Studios to help it fund the development and production of future podcasts, Bloomberg reports. In return for its Futuro deal, Apple gets first refusal on the rights to turn any resulting podcasts into a film or TV show. It has already produced TV shows based on the podcasts WeCrashed and The Shrink Next Door.
Last month, Spotify published its Q2 results for the three months to end of June, and within its SEC filing, the company printed precisely what it paid for recent acquisitions Findaway, Podsights and Chartable, and Sonantic. This information, combined with disclosures in Spotify’s annual report for 2021, paints a clearer picture of Spotify’s acquisition spending specifically on companies in order to grow its podcast business.
Hamburg’s ROBA Music Publishing and the AP Music Royalties Fund have announced their acquisition of GERIG, which execs say “consists of more than 20 owned and administered music publishers” as well as some 30,000 compositions and “thousands” of masters. Founded 53 years back, ROBA bills itself as “the best home for songwriters, repertoire owners and artists in the digital age,” with its website displaying publishing partners including Reservoir Media and Round Hill Music.
If you’ve never heard of Forgotten Runes, that’s probably because you don’t spend your nights surfing NFT marketplace OpenSea. It’s an NFT collection that launched last July and consists of just under 10,000 fantasy characters. The question is simple: Is it possible for a show based on NFTs to cross over to a mainstream audience that may not even know what those three letters stand for?
Spotify’s latest expansion into the world of live music will see the streaming service selling tickets directly to fans, rather than just linking to external ticketing firms. For now, this is strictly a test rather than a full commercial launch. It kicks off tomorrow (10 August) with a small number of artists, with pre-sale tickets available to fans through Spotify’s app and a newly-launched tickets.spotify.com website.
In the music industry, as artificial intelligence (AI) creative technologies become more common, the question of AI authorship is particularly important. AI systems have the potential to cause disruption in the music industry, and the music industry must adapt and incorporate this new technology. The idea that a picture tells a thousand words is especially apt when one attempts to outline copyright and authorship issues for works created by AI.
Since launching in November 2020, beatBread claims to have made advances to almost 400 artists and labels “across multiple genres, six continents, and a broad range of career stages.” BeatBread says that its ChordCash tech engine evaluates artists’ streaming and social data to generate advance offers which – when combined with a “streamlined” verification and documentation process – leads to advance funding landing in artists’ bank accounts within days.
Walmart has held discussions with major media companies about including streaming entertainment in its membership service, according to three people with knowledge of the conversations, part of an effort to extend its relationship with customers beyond its brick-and-mortar stores. In recent weeks, executives from Paramount, Disney and Comcast have spoken with Walmart, the people said.